Explore BrainMass

Explore BrainMass

    TVC (tvc) Curve, Diminishing Returns, Returns to Scale

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    I would really appreciate it if you could explain the answer with only a graph. Thank you.

    a) Can you graph a typical TVC curve and explain how it reflects diminishing returns?

    b) Can you explain the difference between the diminishing returns and returns to scale. How does each affect the behaviour of average cost?

    © BrainMass Inc. brainmass.com June 3, 2020, 5:42 pm ad1c9bdddf
    https://brainmass.com/economics/microeconomics/tvc-tvc-curve-diminishing-returns-returns-scale-35332

    Solution Preview

    Please see attachment.

    I would really apriciate it if you could explain the answer in ...

    Solution Summary

    TVC (tvc) Curve, Diminishing Returns, Returns to Scale are emphasized.

    $2.19

    ADVERTISEMENT